Young Aussies prioritize hobbies over buying homes and taking out loans

In today’s fast-paced world, it’s important to take a moment to unwind and pursue activities that bring us joy. More and more, Millennials are recognizing the importance of hobbies and habits as a way to de-stress and find balance in their lives. From knitting to gaming, this generation is splurging on surprising items in the pursuit of their passions. In this article, we’ll delve into some of the unexpected hobbies and habits that Millennials are embracing, and explore the reasons behind their growing popularity.


A new study by Allianz has found that young Australians are willing to cut their spending in many areas due to the worsening economic crisis, but they are not willing to sacrifice their hobbies. The study found that despite the financial strain, 59% of Gen Z and Millennials refuse to cut finances to their hobbies, with almost half preferring to spend money on their favourite pastime instead of saving for bigger purchases like a car or home loan. This phenomenon, known as the “lipstick effect”, is historically common in times of hardship, where people splurge on self-directed consumption to make themselves feel better. Clinical psychologist Jaimie Bloch said that part of this trend is due to an uptake in hobbies since the pandemic, during which time people invested more in self-care. This is especially prominent among Millennials and Gen Z, who are “more connected to their mental health” and prioritize experiences that connect them to their passions.


In conclusion, it’s clear that Millennials are all about investing in their hobbies and habits, often splurging on unexpected items that enhance their experience. From high-quality outdoor gear to specialized kitchen gadgets and even collectible sneakers, this generation knows what they want and isn’t afraid to spend their hard-earned money on it. Whether it’s a new passion or a long-time hobby, indulging in your interests can bring immense joy and fulfillment to your life. So, embrace your inner Millennial and treat yourself to that special item that will enhance your hobby or habit today!